ITV ends chief executive talks with Tony Ball

LONDON - ITV has terminated discussions with Tony Ball as its search for a chief executive continues to flounder.

Tony Ball... ITV ends discussions
Tony Ball... ITV ends discussions

The broadcaster has pulled out of talks with the former Sky chief executive Ball, who was reported to be seeking a £20 million remuneration package over five years, due to "a number of substantial differences".

ITV said that these included "failure to fully agree contractual arrangements, together with a disagreement over the future chairmanship".

It has emerged that Michael Grade, the current executive chairman, will stand down as chairman and that ITV’s plans to appoint a new chairman are well advanced.

Previously, Grade had planned to continue as chairman following the appointment of a new chief executive.

However, it will now fall to the new chairman to appoint a new chief executive, which could delay the appointment process.